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Tough times ahead for domestic textile sector
24
Sep '08
The textile industry of Taiwan is going through a rough patch and this can be seen from the available official statistics. According to which, in the first six months of this year, the nation earned nearly US $4.33 billion of foreign currency by exporting textile products to various nations. It marks a slight decline of 3.3 percent when compared to the same period of 2007.

Experts suggest that this fall in overseas earnings has come due to reasons like rise in prices of raw materials and subprime loan crises in US. These factors have contributed in the decreased number of orders that the Taiwanese textile enterprises have received when compared to previous year.

In 2007, Taiwan earned almost $8.95 billion of foreign currency through shipping textile products, lowest in last 16 years.

In the first half of 2008, the export value of Taiwan textile industry was $5.71 billion, a slight decline of 1.2 percent in comparison to same period of last year. On the other hand, import value of the sector increases by 6.8 percent. major import items included finished clothes and fabric.

Fibre2fashion News desk - China


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